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‘Welcome to 2022 where Omicron and Unicorn co-exist’: Ronnie Screwvala on startup ecosystem

‘Welcome to 2022 where Omicron and Unicorn co-exist’: Ronnie Screwvala on startup ecosystem

Chairperson and co-founder of the edtech company upGrad Ronnie Screwvala has shared an interesting insight on the up-and-coming unicorn scenario in India.

Chairperson and co-founder of upGrad Ronnie Screwvala Chairperson and co-founder of upGrad Ronnie Screwvala

Chairperson and co-founder of the edtech company upGrad Ronnie Screwvala took to Twitter talk about the booming startup ecosystem. Screwvala said that $100 billion is being invested this year to ensure that a banana is delivered in 14 minutes and another $50 billion is being invested for those who deliver in 20 minutes. He further said, “Welcome to 2022- where Omicron and Unicorn co-exist.”
 
“Hear that- 100 bill$ are being invested this year to ensure a ‘banana’ is home-delivered in 14 minutes and another 50 bill$ is for those who deliver in 20 minutes!! And we thought we had only one infection plaguing when world today= Omicron- Welcome to 2022- where Omicron and Unicorn co-exist,” Screwvala tweeted.

While Screwvala has posted a tongue-in-cheek take on the services aspect of unicorns, Tesla and SpaceX CEO Elon Musk had his doubts on how many of these unicorns will be able to survive the “next recession”. “If history is any guide, not many will make it past the next recession,” Musk said while replying to journalist Christopher Mims on Twitter.
 
“Predicting macroeconomics is challenging, to say the least. My gut feel is maybe around spring or summer 2022, but not later than 2023,” the Tesla boss also noted in a reply to another user named Zack.

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